Residential Income Property with
220 S Western Avenue Unit A, Chicago, IL 60612
For Sale
$349,000
The 2-bedroom residence includes a private garage space, in-unit laundry, and an open living area.
Property Size1,130 SF
Price / SF$308.85
Days on Market10
Property Features for 220 S Western Avenue Unit A
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
stainless steel appliances
white shaker cabinets
quartz countertops and backsplash
recessed lighting
vinyl plank and ceramic flooring
in-unit laundry
central air
Building Details
Building Size
Year Built
Listing Agency:
Kale Realty
Listed By:
Donna Baker · License #475194654
(708) 466-4558
Source:
Dawnmckennagroup
Added: Oct 30
Changed: Nov 7
Last Checked: Nov 6 at 6:33PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kale Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,220-square-foot residential income property is a condominium with 2 bedrooms and 2.5 bathrooms. The open-plan interior includes stainless steel appliances, white shaker cabinetry, quartz countertops and backsplash, recessed lighting, vinyl plank and ceramic flooring, central air, and laundry within the unit. A private garage space is included. The property was built in 2005.
The Chicago address places the residence minutes from downtown and near parks, shopping centers, theaters, museums, restaurants, and entertainment areas.
The Chicago address places the residence minutes from downtown and near parks, shopping centers, theaters, museums, restaurants, and entertainment areas.
Key Highlights
- 1,220 square feet with 2 bedrooms and 2.5 bathrooms
- Private garage space
- Open‑plan layout with stainless steel appliances and quartz countertops
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,322
Cap Rate
4.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$346,440
$346.4K
Cap Rate 7%
$247,457
$247.5K
Cap Rate 9%
$192,467
$192.5K
Market Conditions
NOI Build-Up for 1,130 SF
Gross rent
$33.2K $29.40/SF
− Vacancy
−$1.7K −$1.53/SF
EGI
$31.5K $27.87/SF
− OpEx
−$14.2K −$12.54/SF
NOI
$17.3K $15.33/SF
Area
Chicago, IL
Vacancy
5.20%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$346,440
Cap Rate 7%
$247,457
Cap Rate 9%
$192,467
Alternative Uses
Best Use
Apartment 5plus
$247.5K
$216.5K – $288.7K
NOI $17,322 @ 7.0% cap · market cap 4.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$532.8K
$466.2K – $621.6K
NOI $37,295 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,799
Businesses Nearby
Explore this area
Business Placement
Demographics for 60612, IL
34,402
Population
16,763
Households
2.1
Avg Household Size
34
Median Age
41%
College-Educated
89%
High-School Grad
3.7 sq mi
ZIP Area
9,298
Density / Sq Mi
$60,457
Median Household Income
$46,582
Median Earnings
$1,330
Median Rent
$331,600
Median Home Value
Market
Properties on Market for Residential income properties in Chicago
Frequently Asked Questions
What type of property is this?
Residential income property - The 2-bedroom residence includes a private garage space, in-unit laundry, and an open living area.
Where is this residential income property located?
The property is located at 220 S Western Avenue Unit A Chicago, IL.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 1,220 square feet with 2 bedrooms and 2.5 bathrooms; Private garage space; Open‑plan layout with stainless steel appliances and quartz countertops
